According to a recent report by CBRE South Asia Pvt. Ltd., Mumbai has emerged as the primary hub for the majority of the tallest buildings in India. The report highlights that over 75 percent of tall buildings, measuring more than 150 meters in height, are located in Mumbai. Hyderabad, on the other hand, has experienced a significant increase in vertical growth, establishing itself as the second city in India to witness this trend. The report also emphasizes that due to the limited land availability in Mumbai, the city is expected to maintain its position as the leader in constructing tall buildings across the country.
The report, titled 'Sky is the Limit: Rise of Tall Buildings in India,' focuses on the progress made by different Indian cities in constructing tall buildings. According to the report, there are approximately 250 tall buildings either completed or currently under construction in India. Kolkata holds the third position in this regard, followed by Noida in fourth place. Gurugram, Bengaluru, and Chennai each hold a 1 percent share in the tally of tall buildings.
According to the report, India's urban population is projected to exceed 600 million by 2030, necessitating the exploration of new avenues for growth within cities. Tall buildings have been identified as one potential solution to meet the demand for urban space. However, CBRE India has also highlighted the challenges associated with constructing skyscrapers, emphasizing that the path to building tall structures is not without difficulties.
The report suggests that homebuyers residing on higher floors of tall buildings may be required to pay a premium.
In its evaluation of 15 notable residential projects in Mumbai, CBRE assessed unit pricing across a spectrum of price points and specifications, encompassing buildings ranging from 25 storeys to 50+ storeys. The report revealed that an average price premium of 10-15 percent was observed above the 20th floor, with some cases demonstrating a premium of over 25 percent after the 40th and 60th floors.
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